Adirondack Research & Management Inc. cut its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 48.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,545 shares of the electronics maker’s stock after selling 45,500 shares during the quarter. Sanmina accounts for about 1.3% of Adirondack Research & Management Inc.’s portfolio, making the stock its 29th largest holding. Adirondack Research & Management Inc. owned about 0.07% of Sanmina worth $1,527,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sanmina by 18.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,250 shares of the electronics maker’s stock worth $136,000 after buying an additional 665 shares during the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of Sanmina during the 3rd quarter worth approximately $160,000. World Asset Management Inc acquired a new stake in shares of Sanmina during the 3rd quarter worth approximately $201,000. Ibex Investors LLC acquired a new stake in shares of Sanmina during the 2nd quarter worth approximately $229,000. Finally, LPL Financial LLC acquired a new stake in shares of Sanmina during the 2nd quarter worth approximately $231,000. 92.98% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of Sanmina from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. ValuEngine cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. TheStreet cut shares of Sanmina from a “b” rating to a “c+” rating in a research note on Monday, October 28th. Finally, BidaskClub raised shares of Sanmina from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.00.
Sanmina stock opened at $31.73 on Friday. The company’s fifty day moving average price is $31.34 and its 200 day moving average price is $30.46. Sanmina Corp has a 1 year low of $22.30 and a 1 year high of $34.71. The stock has a market capitalization of $2.19 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.74.
Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, October 28th. The electronics maker reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Sanmina had a net margin of 1.72% and a return on equity of 14.09%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts predict that Sanmina Corp will post 2.79 EPS for the current year.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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